The Town FilesSilver Bay, Minnesota
City in Lake County · population 1,857 (2020 Census)
- Median home
- $158,900
- Household income
- $69,489
- Jan low / Jul high
- 1° / 76°
- Snow a year
- 94 in
- Tornadoes ≤10 mi since 1950
- 0
- Median age
- 47.6
Silver Bay is a city of 1,857 people in Lake County, Minnesota. The median home is worth $158,900, below the typical Minnesota town ($301,800). It ranks better for first-time buyers than 99% of Minnesota towns, better for retirees than 97% of Minnesota towns, quieter than 96% of Minnesota towns.
How Silver Bay ranks
Percentile among Minnesota towns with at least 500 people on The Town Files lifestyle rankings. 50 is typical for the state; 90 means better than 90% of Minnesota towns.
Homes and cost of living
The median home in Silver Bay is worth $158,900, below the typical Minnesota town ($301,800). Homes cost about 2.3 times the median household income of $69,489, which is more affordable than 89% of Minnesota towns. Median rent is $1,140 a month. 80.1% of households own their home.
| Housing | Silver Bay | Typical Minnesota town |
|---|---|---|
| Median home value | $158,900 | $301,800 |
| Median rent | $1,140 | $991 |
| Median household income | $69,489 | $87,375 |
| Home value ÷ income | 2.3× | 3.4× |
| Homeownership | 80.1% | 88.6% |
| Median year built | 1957 | 1979 |
| Seasonal / vacation homes | 7.9% | — |
Who lives in Silver Bay
| People | Silver Bay | Typical Minnesota town |
|---|---|---|
| Median age | 47.6 | 42.7 |
| Age 65 and over | 30.1% | 20.0% |
| Under 18 | 20.4% | — |
| Bachelor's degree or higher | 21.8% | 26.2% |
| Below the poverty line | 9.9% | 6.9% |
| Veterans | 6.1% | — |
| Born outside the U.S. | 2.1% | — |
| Work from home | 12.5% | 11.1% |
| Average commute | 20.4 min | 24.5 min |
| Homes with broadband | 88.8% | 90.2% |
Weather in Silver Bay
July highs average 76.1°F and January lows 1.0°F. About 32.5 inches of rain and melted snow fall a year, with 94.1 inches of snow (typical Minnesota town: 47.0 in). Expect about 3 days a year at 90°F or hotter and 187 nights at or below freezing.
Tornadoes, storms and disasters
NOAA's Storm Events Database has no tornado within 10 miles of Silver Bay since 1950.
Hail of 1 inch or larger has been reported within 10 miles 10 times; the largest was 2.00 inches on June 19, 2012.
Severe weather in Lake County since 1996
Lake County has been included in 12 federal disaster or emergency declarations since 1953, most often for flood, drought, hurricane.
| Declared | Incident | Declaration |
|---|---|---|
| June 28, 2024 | Flood | DR-4797: Severe Storms And Flooding |
| July 13, 2022 | Flood | DR-4659: Severe Storms, Straight-Line Winds, And Flooding |
| April 7, 2020 | Biological | DR-4531: Covid-19 Pandemic |
| March 13, 2020 | Biological | EM-3453: Covid-19 |
| September 5, 2018 | Flood | DR-4390: Severe Storms, Tornadoes, Straight-Line Winds, And Flooding |
Jobs and pay in Lake County
Lake County had 3,902 jobs in 2024, paying an average of $54,467 a year. Unemployment was 3.9% in 2023; in Silver Bay itself the ACS puts it at 2.8%.
Public schools in Silver Bay
2 public schools with 343 students, about 15.6 students per teacher.
| School | Grades | Students | Per teacher |
|---|---|---|---|
| Wm. M. Kelley Secondary | 6-12 | 206 | 17.2 |
| WILLIAM KELLEY ELEMENTARY | PK-6 | 137 | 13.7 |
Towns near Silver Bay
- Beaver Bay, MN6.1 mi · 517 people · home $294,000
- Silver Creek, MN15.3 mi · 1,192 people · home $369,900
- Two Harbors, MN26.1 mi · 3,633 people · home $206,800
Silver Bay questions
Is Silver Bay, Minnesota a good place to retire?
On The Town Files lifestyle rankings, Silver Bay scores better for retirees than 97% of Minnesota towns and quieter than 96%. 30.1% of residents are 65 or older (median age 47.6).
How much does a house cost in Silver Bay?
The median owner-occupied home in Silver Bay is valued at $158,900 (Census ACS 2020–2024), against a median household income of $69,489, so homes cost about 2.3 times income. Median rent is $1,140 a month.
What is the weather like in Silver Bay?
July highs average 76.1°F and January lows 1.0°F (NOAA 1991–2020 normals). It gets about 32.5 inches of precipitation a year and 94.1 inches of snow.
Does Silver Bay get tornadoes?
No tornado has been recorded within 10 miles of Silver Bay in NOAA's Storm Events Database since 1950.
- U.S. Census Bureau, American Community Survey 5-year estimates (2020–2024)
- U.S. Census Bureau, 2020 Census and 2025 Gazetteer (2020 / 2025)
- NOAA NCEI U.S. Climate Normals (1991–2020)
- NOAA NCEI Storm Events Database (1950–2026)
- FEMA OpenFEMA Disaster Declarations (this product uses the FEMA OpenFEMA API but is not endorsed by FEMA) (1953–2026)
- NCES Common Core of Data (2023–24)
- BLS Quarterly Census of Employment and Wages; USDA ERS county unemployment (BLS LAUS) (2000–2024)
- The Town Files lifestyle rankings, built from federal demographic, school, crime and housing data (2025)